Drax Group Plc’s (LON:DRX) “Outperform” Rating Reaffirmed at Credit Suisse Group
Drax Group Plc (LON:DRX)‘s stock had its “outperform” rating reaffirmed by equities research analysts at Credit Suisse Group in a research report issued to clients and investors on Friday.
A number of other research analysts also recently issued reports on the company. Barclays PLC raised Drax Group Plc to an “overweight” rating and upped their price target for the company from GBX 400 ($5.22) to GBX 410 ($5.35) in a report on Friday, April 28th. Jefferies Group LLC raised Drax Group Plc to a “buy” rating and upped their price target for the company from GBX 305 ($3.98) to GBX 400 ($5.22) in a report on Tuesday, May 2nd. Deutsche Bank AG reaffirmed a “hold” rating and set a GBX 310 ($4.05) price target on shares of Drax Group Plc in a report on Monday, June 12th. HSBC Holdings plc lowered their price target on Drax Group Plc from GBX 410 ($5.35) to GBX 340 ($4.44) and set a “hold” rating on the stock in a report on Wednesday, March 29th. Finally, Investec reaffirmed a “buy” rating and set a GBX 420 ($5.48) price target on shares of Drax Group Plc in a report on Friday, June 23rd. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of GBX 382.50 ($4.99).
Shares of Drax Group Plc (LON:DRX) opened at 315.70 on Friday. The stock’s 50 day moving average price is GBX 338.48 and its 200 day moving average price is GBX 343.02. Drax Group Plc has a 12 month low of GBX 273.10 and a 12 month high of GBX 393.20. The stock’s market capitalization is GBX 1.28 billion.
Drax Group Plc Company Profile
Drax Group Plc is engaged in the electricity generation; electricity supply to business customers, and manufacturing of sustainable compressed wood pellets for use in electricity production. The Company’s segments include Generation, which is engaged in the generation of electricity at Drax Power Station; Biomass Supply, which is engaged in the production of sustainable compressed wood pellets at its processing facilities in the United States, and Retail, which is engaged in the supply of power to business customers and wood pellets to the domestic heat market.
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